Agriculture FCU raised its long-term share certificate rates this week by 25 basis points. The 36-month and 48-month CD yields are now 5.50% APY and the 60-month yield is 5.75% APY. The shorter term rates remain the same: 5% APY 6-month CD and 5.15% 12/24-month CD. These same rates also apply to the IRA certificates. The minimum deposit is $1,000.
These long-term CD rates now match Penfed's February rates. As of this morning, Penfed still hasn't updated the CD rates for March. One thing to note is that AFCU has higher short-term CD rates than Penfed. Even though AFCU's standard short-term CD rates aren't anything special, AFCU has a history of offering short-term CD specials. Last year's CD specials had rates as high as 6.10% APY for short-term CDs and 6.50% for long-term CDs.
Field of membership includes members of CityDance Ensemble. CityDance has open membership to anyone that pays membership dues of $20.00. This membership can be done at the same time that you apply for credit union membership. They have an online membership application in which you can join CityDance for $20, join the credit union for a $5 initial deposit to the Primary Share account, and open the CD.
The FOM also includes those who live, work or worship in Washington DC plus other group affiliations.
I joined AFCU and opened a CD last November. For more information on joining AFCU, CDs and fees, please refer to my November AFCU post.
Branches are located in Washington DC, Riverdale, Maryland, and Alexandria, Virginia. AFCU is also part of National Shared Branching network in which you can use local credit unions to access your account and conduct many transactions.
AFCU is federally insured by the NCUA. It has 193.8 million in assets and 24,053 members.
Credit for this interest rate update goes to the reader who mentioned this in the finding deals post. Thanks!